LOCATED AT ADELAIDE / LAMBTON, HIGH TRAFFIC COUNT WITH EXCELLENT COMMERCIAL/RESIDENTIAL USE. Unique freehold mixed-use opportunity in a great London location! This versatile property offers a combination of commercial space, residential income and additional living flexibility, all on one property. The upper level features a bright 2-bedroom apartment with a full 4-piece bathroom, updated kitchen finishes and refinished hardwood floors, currently rented and providing immediate income. The main floor offers flexible office space with two separate office/flex areas, a kitchenette and 2-piece bathroom, making it ideal for a business owner or professional office. Finished basement offering additional living space with an existing kitchen area and plumbing in place, providing potential for future use. Basement has not been rented in many years. Buyer to verify continued use. Situated on a property with 8 on-site parking spaces accessible off of Lambton Street, this building offers exceptional flexibility for an owner-user, investor or entrepreneur looking to combine residential and commercial uses. Additional updates include a metal roof and eavestroughs (2020/21), two owned hot water tanks (2020), newer front door, dedicated bell fibre optic line and various updates throughout the home. The property is equipped with two furnaces, with one serving the main and lower levels and the other dedicated to the upper-level apartment. Double-brick construction with additional insulation provides excellent sound separation, making the interior remarkably quiet. Zoned OC5/R2-2, offering a range of permitted uses. A rare opportunity to own a flexible mixed-use property with multiple potential revenue streams.
Address
587 Lambton Street
List Price
$864,900
MLS® Status
New
Property Type
Residential Freehold
Type of Dwelling
Detached
Style of Home
2-Storey
Transaction Type
Sale
Area
London East
Sub-Area
East B
Region
Middlesex
Bedrooms
2 + 1
Bedrooms (Total)
3
Rooms Above Grade
8
Rooms Below Grade
3
Bathrooms
3
Floor Area
2000-2500 Sq. Ft.
Lot Size Source
MPAC
Lot Depth
143.71
Lot Size Units
Feet
Lot Width
48.85
Parcel Number
082320036
Occupant Type
Owner
Cross Street
Lambton / Adelaide
Approx. Age
51 - 99 Years
MLS® Number
X13798490
Listing Brokerage
RE/MAX CENTRE CITY REALTY INC.
Basement Area
Finished
Postal Code
N5Y 4G1
Posession Details
Flexible
Parking Places (Total)
8
Parking Spaces
8
Tax Amount
$10,143.50
Tax Year
2026
Site Influences
Public Transit, School
Interior Features
Water Heater Owned
Property Features
Public Transit, School
Central Vacuum
No
Family Room
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
London and St. Thomas Association of REALTORS
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Brick
Direction Faces
South
Fireplace
No
Foundation Details
Concrete Block
Garage
No
Garage Type
None
Kitchens Total
1
Kitchens Above Grade
1
Pool Features
None
Roof
Metal
Tax Legal Description
PART LOTS 15 & 16 PLAN 60(E) AS IN 617336 LONDON
View Type
City
Waterfront
No
Sewer
Sewer
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Rooms
| Floor | Type | Dimensions | Features |
|---|---|---|---|
| Main | Office | 3.76 x 3.47 Meters | |
| Main | Office | 3.74 x 3.46 Meters | |
| Main | Bathroom | 1.54 x 1.56 Meters | 2 Pc Bath |
| Main | Other | 10.86 x 5.2 Meters | |
| Main | Other | 1.12 x 1.96 Meters | |
| Second | Bedroom | 4.49 x 3.4 Meters | |
| Second | Bedroom 2 | 3.79 x 3.47 Meters | |
| Main | Bathroom | 1.44 x 2.36 Meters | 4 Pc Bath |
| Second | Living Room | 3.73 x 4.06 Meters | |
| Second | Dining Room | 2.48 x 4.06 Meters | |
| Second | Kitchen | 4.66 x 3.07 Meters | |
| Basement | Recreation | 6.68 x 3.35 Meters | |
| Basement | Bedroom 3 | 4.34 x 3.27 Meters | |
| Basement | Bathroom | 1.77 x 1.66 Meters | 3 Pc Bath |
| Basement | Utility Room | 6.28 x 3.37 Meters | |
| Basement | Laundry | 4.77 x 3.09 Meters |